Magna International, Inc. (NYSE:MGA) (TSE:MG) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday, October 18th.
Several other equities research analysts also recently weighed in on MGA. Royal Bank Of Canada lifted their price target on shares of Magna International from $60.00 to $61.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. TD Securities boosted their target price on shares of Magna International from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Bank of America Corporation raised shares of Magna International from an “underperform” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Wednesday, October 18th. Citigroup Inc. boosted their target price on shares of Magna International from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Zacks Investment Research raised shares of Magna International from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Magna International has an average rating of “Buy” and a consensus target price of $56.00.
Shares of Magna International (NYSE:MGA) traded down 1.14% during trading on Wednesday, hitting $54.54. The stock had a trading volume of 931,930 shares. Magna International has a 52 week low of $36.77 and a 52 week high of $55.76. The stock has a market capitalization of $20.17 billion, a price-to-earnings ratio of 9.85 and a beta of 1.46. The stock’s 50 day moving average is $52.90 and its 200 day moving average is $47.26.
Magna International (NYSE:MGA) (TSE:MG) last posted its quarterly earnings results on Friday, August 11th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.01. Magna International had a net margin of 5.73% and a return on equity of 20.01%. The firm had revenue of $9.68 billion during the quarter, compared to the consensus estimate of $9.50 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Magna International will post $5.90 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westwood Management Corp IL purchased a new position in Magna International in the third quarter valued at about $214,000. IFP Advisors Inc boosted its stake in Magna International by 19.5% in the second quarter. IFP Advisors Inc now owns 4,011 shares of the company’s stock valued at $186,000 after acquiring an additional 654 shares during the last quarter. Advisory Services Network LLC boosted its stake in Magna International by 17.2% in the second quarter. Advisory Services Network LLC now owns 4,257 shares of the company’s stock valued at $197,000 after acquiring an additional 625 shares during the last quarter. Regent Investment Management LLC purchased a new stake in shares of Magna International during the 2nd quarter valued at approximately $204,000. Finally, Smithbridge Asset Management Inc. DE purchased a new stake in shares of Magna International during the 2nd quarter valued at approximately $219,000. Hedge funds and other institutional investors own 59.79% of the company’s stock.
About Magna International
Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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